FxWirePro: chfjpy takes support near 200-h ma, good to sell on rallies
Source: FxWire Pro - Technicals / 22 Mar 2020 06:19:57 America/New_York
Ichimoku Analysis (1 Hour chart)
CHFJPY has started to recover after hitting a low of 111.77 level. The slight recovery was due to the weak yen. USDJPY is trading higher for past 1-week and jumped more than 850 pips.
On the flip side, near term support around 111.68 (200-H MA) and any violation below will drag the pair down till 110.97/110.25/109.54.
The immediate resistance is around 112.87 and the indicative break above targets 113.20/113.71.
It is good to sell on rallies around 112.25-30 with SL around 112.80 for TP of 111.© FxWire Pro 2020. All rights reserved. The FxWire Pro content received through this service is the intellectual property of FxWire Pro or its third party suppliers. Republication or redistribution of content provided by FxWire Pro is expressly prohibited without the prior written consent of FxWire Pro, except for personal and non-commercial use. Neither FxWire Pro nor its third party suppliers shall be liable for any errors, omissions or delays in content, or for any actions taken in reliance thereon.